Some Elliott wave forex traders do watch the news — but for different reasons By Elliott Wave International Last Friday, EURUSD rallied strongly. Said Reuters: “The U.S. dollar tumbled against a basket of major currencies…on U.S. political uncertainty after the FBI said it would review more emails related to Democratic presidential candidate Hillary Clinton’s private […]

Any trader of foreign currencies likely understands the influence that both local and international politics have on currency values. Successful online forex trading involves following the changes and trends that are taking place across the globe, and making the right trades at opportune moments to capitalize on changes of currency values.

USDJPY is in the downtrend for the last 10 months. Overall Volatility and downtrend momentum weakened in the last 4 weeks with the sideways movement in USDJPY. The Psychological trading zone – Pairs parity 100 got whipsawed couple of times followed by a minor pullback last week. As the panic in USDJPY is fading away one can expect USDJPY to continue in the large consolidation zone and expecting to test 108 in the medium term.

USDJPY Monthly charts are in declining mode for the last 9 months and consecutively keep on making lower lows and lower highs. And from the 2015 high USDJPY had last around ~20% since the negative interest rate announcement came on January 29. And currently trading around above the psychological support zone of 100 levels. CM William VIX FIX levels indicates a possible oversold levels.

After Dr.Raguram Rajan’s(RBI Governer) announcement that he will not continue in office for the second term, stock markets on Monday reacted with gap down and recovered on relief of BRexit fears. However from the currency front USDINR ended at 67.6 with strong momentum . EOD sentiment is holding positive and also the coral trend indicator turns greens indicating that a possible uptrend from here on.

Interesting Divergence behavior in USDINR Daily charts while trying to use Fisher Transform indicator by Ehlers. Almost every divergence as shown in the above charts extended any where between 28-34 days. Divergence generally occurs when an indicator and the price of an asset are heading in opposite directions. Current positive divergence is running on for last 32 days i.e USDINR rate is slowing and moving down however fisher indicator is turning upwards.

Foreign Reserve is a foreign currency hold by country’s central banks (RBI) and also by major financial institutions to meet their international payment obligations or in other words to influence their exchange rate. And also includes sovereign,commercial debts,during imports,to intervene in the foreign currency market during high volatility.

State-run owner BSNL on Saturday released a pre-paid cards connected cellular pockets support which would allow its clients to exchange money, pay for solutions as well as take out money of up to Rs. 1 lakh. The pockets support, Rate Pay, allows a client to fill money even if he does not have a banking consideration. The money packed in the cellular pockets can be moved to a banking consideration and even removed at financial institution divisions or at BSNL sites.

Finally, after much anticipating, Reserve Bank of India, or RBI came up with the final mode of paying issues, with a completely new set of guidelines. This is likely to end all ambiguity, which surrounds the field of contact less payment solutions. As reported earlier, there is not going to be an additional verification factor, which can land up to any amount till 2000 bucks.

Government-owned train ticketing system IRCTC, which is the one of the most used on the internet business website in the nation clocking on a normal over 500, 000 passes a day, has included Paytm’s pockets as an on the internet transaction choice. Next time you try to guide passes through IRCTC website; it will be that much easier for you as you will be able to create expenses through Paytm pockets.

India’s second biggest telecommunications company i.e. Vodafone Indian declared their new invoice transaction Smart cell phone pockets app – M-Pesa. The program has been released across all the significant Smart cell phone systems such as Android operating system, iOS, Blackberry mobile phones OS and Ms windows Phone as well. The app is mainly focused at the on the internet invoice transaction and cellular renew performance.

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